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Miltonia Mortgage Finance S.r.l.: 12 May 2024

The principal source of payment of interest and of repayment of principal on the Notes will be the collections and recoveries made in respect of a portfolio of monetary claims and connected rights arising out of mortgage loans which qualify as “mutui fondiari” and the mortgage loans granted under such Mortgage Loan Agreements, the “Mortgage Loans”.

As at the cut-off date the portfolio consisted of 57,415 residential mortgages, where the average current balance is Eur72,084 and the largest being Eur2.625mln. Occupancy Type: first home – 87.0%, mixed – 8.8%, second home – 3.2%. Amortisation type: French – 88.8%, French - Fixed Instalment – 4.4%, others – 6.8%. Interest Rate type: variable – 89.3%, fixed – 10.7%. The WA current LTV is 50.78% (WA original LTV was 67.59%) and WA seasoning is 163.23 months. Regional concentration: Lombardia 24.6%, Lazio – 21.8%, Piemonte – 9.9% and Campania 9.8%.

EU & UK Risk Retention: Barclays will be required to retain no less than 5% of the nominal value of each Class of Notes (other than the Class Y Notes) for as long as required under the EU Securitisation Regulation, under the UK Securitisation Regulation and pursuant to the Risk Retention Undertaking.

US Risk Retention: The Retention Holder does not intend to retain at least 5% of the credit risk of the Issuer for the purposes of the US Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 246.20 of the US Risk Retention Rules regarding non-US transactions.

STS: The Securitisation is not intended to qualify as a STS-securitisation within the meaning of Article 18 of the EU Securitisation Regulation and the UK Securitisation Regulation.

Compare/contrast: Leone Arancio RMBS Srl (2023), Valsabbina RMBS SPV 1 Srl